Jeffersonville Bancorp Announces First Quarter Earnings of $2,718,000 or $0.64 per share; Declares Dividend of $0.15

Financial Performance - Jeffersonville Bancorp, Inc. reported a first quarter net income of $2,718,000 or$0.64 per share, an increase from $2,553,000 or$0.60 per share in the same quarter of 2024, reflecting a growth of $165,000 [1] - The increase in net income was primarily due to a decrease in interest expense by$621,000, an increase in loan interest and fees by $328,000, and an increase in non-interest income by$102,000 [1] - However, this increase was partially offset by a decrease in other interest income of $666,000, an increase in tax expense of$46,000, an increase in salaries and employee benefits of $43,000, and an increase in other non-interest expense of$33,000 [1] Strategic Decisions - The company retired all wholesale funding by the end of 2024, which helped reduce forward interest expense from already low levels [2] - Strong loan growth in the first quarter partially offset lower rates on funds held at the Federal Reserve and some planned runoff of securities [2] - The company maintains a very liquid balance sheet amid ongoing economic uncertainty [2] Dividend Declaration - A cash dividend of $0.15 per share on the common stock was declared, payable on June 5, 2025, to stockholders of record at the close of business on May 27, 2025 [2] Company Overview - Jeffersonville Bancorp is a one-bank holding company that owns all the capital stock of Jeff Bank, which operates ten full-service branches in Sullivan and Orange County, New York [3]